Minerals Technologies (NYSE:MTX) Hits New 52-Week Low After Analyst Downgrade

Minerals Technologies Inc. (NYSE:MTX)’s stock price reached a new 52-week low on Monday after Truist Financial lowered their price target on the stock from $92.00 to $80.00. Truist Financial currently has a buy rating on the stock. Minerals Technologies traded as low as $52.33 and last traded at $53.03, with a volume of 146 shares traded. The stock had previously closed at $52.98.

Separately, StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th.

Institutional Trading of Minerals Technologies

A number of large investors have recently made changes to their positions in MTX. Barclays PLC increased its position in Minerals Technologies by 210.1% during the third quarter. Barclays PLC now owns 111,526 shares of the basic materials company’s stock worth $8,615,000 after buying an additional 75,565 shares during the period. Tidal Investments LLC lifted its stake in shares of Minerals Technologies by 14.6% in the 3rd quarter. Tidal Investments LLC now owns 7,454 shares of the basic materials company’s stock worth $576,000 after acquiring an additional 948 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Minerals Technologies by 21.1% in the third quarter. Franklin Resources Inc. now owns 47,847 shares of the basic materials company’s stock valued at $3,728,000 after acquiring an additional 8,335 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Minerals Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 162,291 shares of the basic materials company’s stock worth $12,534,000 after acquiring an additional 3,230 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Minerals Technologies by 9.7% in the third quarter. JPMorgan Chase & Co. now owns 115,887 shares of the basic materials company’s stock valued at $8,950,000 after purchasing an additional 10,284 shares during the period. 97.29% of the stock is currently owned by hedge funds and other institutional investors.

Minerals Technologies Trading Up 0.1 %

The business has a 50 day moving average price of $62.28 and a 200-day moving average price of $72.17. The firm has a market capitalization of $1.62 billion, a PE ratio of 9.84 and a beta of 1.25. The company has a current ratio of 2.84, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The company had revenue of $491.80 million during the quarter, compared to analyst estimates of $502.03 million. Minerals Technologies had a return on equity of 11.49% and a net margin of 7.89%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the firm earned $1.49 earnings per share. Analysts expect that Minerals Technologies Inc. will post 6.62 earnings per share for the current year.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.